The Australian market looks set to open lower after a drop in oil prices pulled down energy stocks on the Dow Jones and S&P 500.

The SPI is down 24 points trading at 5522.

Locally, in economic news, the Reserve Bank of Australia holds its monthly board meeting and decides its interest rate position. The Australian Bureau of Statistics releases building approvals figures and international trade in goods and services, both for June.

Meanwhile, the ANZ-Roy Morgan weekly consumer confidence survey is due out, as is the Dun and Bradstreet business expectations survey.

In equities news, Seven West Media and Navitas are slated to post full-year results.

Key Numbers

• The SPI is down 24 points trading at 5522
• AUD -0.6% to 75.51 US cents
• On Wall St, Dow -0.2%, S&P 500 -0.1%, Nasdaq +0.4%
• In New York, BHP -1.6%, Rio -0.4%
• In Europe, Stoxx 50 -0.8%, FTSE -0.5%, CAC -0.7%, DAX flat
• Spot gold +0.1% to $US1352.80 an ounce
• Brent crude -3.6% to $US41.96 a barrel
• Iron ore +4.9% to $US62.27 a tonne

What’s on today

RBA rates decision @1430, ABS Building approvals

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